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DD tax dependent or not?
Old 02-02-2013, 01:23 PM
  #1

Ok my dear teacher buddies...need your TAX advice. My DD is 20 yrs goes to college and works 2 jobs. Unfortunately one of her jobs did not take out enough taxes and she owes $700 (she made $29K last year) if I take her off my taxes and she claims herself she may break even or get back a few dollars BUT I will go from 3 dependent children down to 2!! So I will get much less in a refund or may owe...should I figure the taxes both ways and go with the less damaging option. I am helping her with college & living expenses. What would you do? Your thoughts TIA


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Old 02-02-2013, 01:34 PM
  #2

I'd figure both ways.

But is she a full time student? At her age, she has to be to qualify as a dependent? Make sure you provided more that half her living expenses. At 29K the IRS may question whether she is financially dependent.
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Old 02-02-2013, 01:35 PM
  #3

I was told by my tax person that you can only claim them as dependents if you provide I think it was over 50% of their expenses. I haven't claimed my DS for a few years because he makes over 25,000 even though he lives at home. I figure he needs the money more than I do.
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Old 02-02-2013, 01:35 PM
  #4

I think you definitely need to fill the paperwork out both ways and see what is better for the family.
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Old 02-02-2013, 07:38 PM
  #5

My husband did our taxes through Turbo Tax online. He was able to ask a similar question through a chat feature. Our daughter turned 18 in December, and was in college this fall. He decided to continue to claim her. We got the impression that as long as she is in college and living in our home we could still claim her.


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Old 02-02-2013, 07:52 PM
  #6

Figure both ways and if its much better for you claim her and share some of your refund with her!

Nancy
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